SEWS Komponens Hungary Mór

Car parts manufacturer SEWS Komponens és Elektronika Európa is investing 2.75 billion forints to expand production capacity at its base in Mór, in western Hungary, with a 960 million forint grant from the government, Péter Szijjártó, the minister of foreign affairs and trade, said on Monday.

SEWS is receiving funding from a government’s scheme to help large enterprises improve their competitiveness, and the investment will help preserve 561 jobs, Szijjártó said.

The scheme as a whole has helped 71 companies located in Hungary invest 207 billion forints and preserve 61,600 jobs, he added.

The company will introduce a new product and expand production equipment in the framework of the investment project.

As we wrote yesterday, US information technology giant IBM is starting a 3.5 billion forint (EUR 9.7m) development of its IT centre in Székesfehérvár, details HERE.

Also we wrote about BorsodChem is investing EUR 33.2m at is base in Kazincbarcika, in north-eastern Hungary, saving some 3,000 jobs in the area. The Chinese company is expanding its annual manufacturing capacity of 200 kilotonnes by 90 kilotonnes, details HERE.

Source: MTI

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